Earlier today, Uranium Energy announced that it has closed its previously announced public offering of shares of its common stock. The company sold 6,246,078 Shares at a price of $3.60 per Share, for gross proceeds of $22,485,880, which includes 686,078 Shares sold pursuant to an over-allotment option exercised by the placement agents.
The company offered and sold the shares pursuant to an agency agreement dated April 2, 2012 between UEC and a syndicate of placement agents with Dundee Securities Ltd. acting as the lead placement agent and sole bookrunner in connection with the offering. The syndicate of placement agents included Global Hunter Securities LLC, CIBC World Markets, Inc., and Haywood Securities, Inc. The company granted the placement agents an option, exercisable in whole or in part, at the sole option of Dundee Securities Ltd., on behalf of the placement agents, to place up to an additional 15% of the Offering (that is, an additional 834,000 Shares), at $3.60 per Share. Dundee Securities Ltd. exercised this option with respect to 686,078 Shares.
Uranium Energy anticipates that the net proceeds from the offering will be used to fund exploration and development expenditures at its projects and for general corporate and working capital purposes.
For more information, visit the company’s website at www.UraniumEnergy.com
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